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School District Plans $220 Mil in New Construction, Renovations

TAVARES, FL-General contractors, structural engineers and architects will be bidding for a share of one of the largest retrofitting jobs in years if Lake County taxpayers approve an extension of the seven-cent sales tax in November. Tavares, the county seat, is 35 miles northwest of Downtown Orlando.

By Alex Finkelstein | Updated on September 13, 2001

TAVARES, FL-Lake County School District has $220 million worth of new construction and renovations planned at five high schools and two elementary schools over the next 10 years. The only hitch: Money. The district has only $120 million in the till.

To get the needed $100 million, school officials are banking on taxpayers approving an extension of the seven-cent sales tax in November. That revenue would start at $7 million in the first year and build to the end of the 15-year tax life.

School officials estimate they would be able to bond that projected revenue, using future tax receipts as collateral, into a $150 million for construction purposes.

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